He Governor of the Bank of England, Andrew Baileyhe reiterated on Friday that Its commitment to the 2% inflation objective is unwaveringaccording to Reuters.
Outstanding statements
“It is good that we have a diversity of opinions in the Monetary Policy Committee (MPC).”
“We will maintain a base projection, based on a staff proposal, one that most of the MPC considers a reasonable basis.”
“We will use scenarios such as vehicles to explore risks around the base and accommodate opinion differences in the committee.”
“The last choice of BOE scenarios does not mean that the risk of inflation is biased in one direction.”
“The scenarios do not imply a bias for the path of monetary policy.”
“Behind a divided vote there is often a high degree of communality in the factors that shape the perspectives.”
“The global economic environment will probably remain challenging and less predictable than it was in the past.”
Market reaction
These comments failed to trigger a remarkable reaction in the market. At the time of publication, the GBP/USD rose 0.15% in the day to 1,3265.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
